ODAC Newsletter – Aug 27
Cairn Energy announced this week that it had found evidence “indicative of an active hydrocarbon system” off Greenland. The news comes in the middle of a bidding round for oil and gas exploration licences there. The US Geological Survey estimated in 2008 that the region contains approximately 90 billion barrels of technically recoverable oil, but producing the stuff would combine the extreme challenges of deepwater drilling, extreme cold, and ice. Any accident would be massively harder to deal with than Deepwater Horizon because of the country’s remoteness…


